Mortgage question.

[flobadob]

I got my first mortgage in march 2005. It was a 3 year fixed mortgage so it is I assume changing in march this year. The thing is I have not heard anything from the bank yet about it. I assume that the interest is going to be lower now as they have fallen a lot recently.

My question is, is it up to me to go to the bank to negotiate a new deal or do I wait for them to come to me and if no contact is made will it just keep going as it is now.

Also perhaps I am thinking about this too early and perhaps I will hear from them in the coming months. Does anyone know about this kind of a situation?

By the way I am in Ireland but I assume it would be the same as britain when it comes to dealing with this kind of issue. Any advice appreciated.

[Ethel]

Usually the deal is fixed for three years then goes straight to the lender' s variable rate - you don't need to do anything unless you want to negotiate another deal

[flobadob]

Thanks. I suppose it might be a good time to trey for another fixed spell as they are low now but will probably rise in a few years time. Does anyone know what is the longest fixed rate you can get, in terms of years. I assume I couldn't ask them to fix it for the next 20?

[CheekyChops]

If your mortgage was taken out in March 05 for three years then your fixed rate would have been up in March 08 - i.e. last year.

You have probably been on the SVR (standard variable rate) since then.

[flobadob]

Naw it was march 06 then as this is the 3rd year up now. That was a mathematical error on my part. Obviously I'll need help with the sums if I can't get 9-3 right.